by Eng. D. Godage Total foreign currency reserves of the country were around seven billion dollars at the beginning of 2021 but it decreased to around 1.2 billion dollars towards the year end, even though the Central Bank announced that there was a reserve of three billion dollars. The net foreign assets of the total […]
Colombo Port City: Gains to state coffers island.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from island.lk Daily Mail and Mail on Sunday newspapers.
By Eng. D. Godage
The Colombo Port East Container Terminal, ECT, is hot topic, being an important economic nerve centre essential to the country but getting involved as a pawn in geopolitics. Opinion by I. P. C. Mendis in
The Island (27.01.2021) prompted to clarify some of the matters and expose true facts.
ECT will neither be sold nor leased; it will be developed through investment from an Indian party and others by giving out 49 per cent share to them while keeping 51 per cent share with the Ports Authority. This is the government stance. Public awareness exists on Build Operate Transfer (BOT) agreements in the port with two terminals operating under this method. Land and sea area are leased to the relevant party by a lease agreement for a specified period, 35 years in both, and the private party invests to develop the terminal. So investment is an essential part in those agreements. But presently announced terminology creates confusion.
Posted on December 29th, 2020
By Shamindra Ferdinando Courtesy The Island
Sri Lanka Muslim Congress (SLMC) leader Rauff Hakeem, MP, recently told
The Island that Sri Lanka had no option but to involve India in the development of the deep water facility, the East Container Terminal at the Colombo Port, which has been built to accommodate the largest container ships that ply around the world carrying as many as 16,000 containers (TEUs), like its competing Chinese-run Colombo International Container Terminal also in the more recently built and what is known as the Colombo South harbour.
The Samagi Jana Balavegaya (SJB) Kandy District lawmaker said so in response to the writer seeking an explanation as regards his stand on the issue at hand in the wake of his quite controversial statement on Derana ‘Wadapitiya’, anchored by Chathura Alwis.